Schedule of Basic Earnings Per Share |
The following table shows the calculation of basic income per share: | | | | | | | | | | | | | | | | | | | | | | | 2022 | | 2021 | | 2020 | Net income attributable to Summit Inc. | | $ | 272,145 | | | $ | 152,184 | | | $ | 137,967 | | | | | | | | | Weighted average shares of Class A stock outstanding | | 119,747,056 | | | 119,415,448 | | | 115,993,963 | | Add: Nonvested restricted stock awards of retirement eligible shares | | 147,388 | | | 213,846 | | | 212,443 | | Weighted average shares outstanding | | 119,894,444 | | | 119,629,294 | | | 116,206,406 | | Basic earnings per share | | $ | 2.27 | | | $ | 1.27 | | | $ | 1.19 | | | | | | | | | Diluted net income attributable to Summit Inc. | | $ | 272,145 | | | $ | 152,184 | | | $ | 137,967 | | | | | | | | | Weighted average shares outstanding | | 119,894,444 | | | 119,415,448 | | | 115,993,963 | | | | | | | | | Add: stock options | | 87,976 | | | 282,677 | | | 3,390 | | Add: warrants | | 11,647 | | | 17,674 | | | — | | Add: restricted stock units | | 460,700 | | | 816,966 | | | 520,871 | | Add: performance stock units | | 173,692 | | | 188,381 | | | 92,758 | | Weighted average dilutive shares outstanding | | 120,628,459 | | | 120,721,146 | | | 116,610,982 | | Diluted earnings per share | | $ | 2.26 | | | $ | 1.26 | | | $ | 1.18 | |
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Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share |
Excluded from the above calculations were the shares noted below as they were antidilutive: | | | | | | | | | | | | | | | | | | | | | | | 2022 | | 2021 | | 2020 | Antidilutive shares: | | | | | | | LP Units | | 1,313,204 | | | 1,867,853 | | | 3,060,248 | | | | | | | | | Warrants | | — | | | — | | | 100,037 | | | | | | | | | | | | | | | |
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